[quote SATSmadness]'**@MidLifeCrisis007*
I can see the logic there as I believe that student finance debt doesn't affect your ability to get a mortgage as much as some other types of debt.
However, student finance debt seems to have higher interest rate than mortgage finance currently.
I think there's an element of gambling/needing a crystal ball as we're all wise with hindsight as to what the best strategy might be. It's a much more difficult decision for DC who will probably end up as high earners and especially those with parents who would be able to fund them to quite an extent from savings or spare income.
I got an unpleasant surprise when i found that interest starts to be charged when the student finance loans are taken up so whilst the DC are studying, with no spare income to be making repayments, the interest is racking up.
Those students on a 5/6 year course must build up quite a bit of additional debt in the form of interest added.[/quote]
It doesn't affect your abilioty to borrow but unfortunately any repayments you have to make are taken into account when they calculate the affordability and they are much hotter on this these days so I am afraid I am not happy that ML does not elaborate on this point either and tends to brush that off.